With reference to the recent occurrence, a foreign private digital wallet service provider has solicited investors in Thailand via social media to trade digital assets by linking investor trading activities with another foreign digital asset trading platform and allowing payment for the transactions made in Thai baht through Prompt Pay and Thai QR. Such provision of services may be deemed the undertaking of digital asset business without license, subject to the offenses under the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018). The SEC is in consideration for taking further actions under the authority in this matter, including coordinating with other relevant regulators, e.g. the Bank of Thailand and the Anti-Money Laundering Office.

In this connection, the public and investors are advised to take precautions when considering to use the services of unlicensed digital asset business operators, as they may not be protected under the governing Thai laws and may fall victim to frauds and scams as well as money laundering schemes. The list of business operators not supervised by the SEC can be checked at the “investor alert” link https://market.sec.or.th/public/idisc/th/investorAlert

Any signs and clues of suspicious activity can be notified through the “SEC Help Center”, Tel. 1207, or Facebook page “SEC Office” or SEC Live Chat on the SEC website.